Read time: 2 minutes 40 seconds The FCA announced on March 5, 2021 the future cessation and loss of representativeness of the LIBOR benchmarks. This news was expected, but its comprehensiveness is very welcome. As a result, December 31, 2021 will be the last day on which all euro and Swiss franc LIBOR tenor settings are … Continue Reading
Read time: 4 minutes 50 seconds As well as ringing in the start of a hopefully brighter and better 2021, January also saw Indian banks testing the waters of LIBOR transition, with State Bank of India and ICICI Bank involved in their first alternative risk free rate transactions. Utilising the US dollar Secured Overnight Financing … Continue Reading
Read time: 5 minutes 45 seconds The Financial Conduct Authority (FCA) is to be given new powers to make changes to the methodology of LIBOR for certain “tough legacy” contracts. The UK Government has announced that it intends to bring forward legislation amending the Benchmarks Regulation 2016/1011 as amended by the Benchmarks (Amendment) (EU Exit) … Continue Reading
